China rolls ahead with train makers’ merger

China is moving forward with the merger of its two top train makers, state media said Wednesday, with a plan to create a massive group to export high-speed railway technology. State media have previously said the merger of state-owned China CNR Corp. and CSR Corp.

will help prevent “cut-throat” competition between the two when seeking business overseas.The merger could also put the combined entity in a stronger position to take on the likes of Germany’s Siemens and Bombardier of Canada.A draft plan for the merger has been submitted to China’s cabinet, the State Council, for discussion and approval, the official Xinhua News Agency reported.